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BRIEF-Medigene FY total revenue increases 43 pct to 9.8 mln euros
March 23, 2017 / 6:43 AM / 9 months ago

BRIEF-Medigene FY total revenue increases 43 pct to 9.8 mln euros

March 23 (Reuters) - Medigene Ag

* FY total revenue increases 43 pct to 9.8 million euros ($10.58 million)

* Financial guidance for 2016 met

* Financial guidance for 2017 reflects Medigene’s alignment and continued focus on its core business of immunotherapies

* 2017 revenue: planned total revenue in 2017 between 8 - 10 million euros

* 2017 projected EBITDA loss of 16 - 18 million euros

* For 2017 Medigene anticipates cash utilization of between 23 - 27 million euros, partly due to non-recurring effects such as investments in laboratory infrastructure

* FY net loss for year was reduced by 27 pct to 9.492 million euros (2015: 12.999 million euros)

* Company has sufficient financial resources to fund business operations well beyond forecast horizon of two years Source text for Eikon: Further company coverage: ($1 = 0.9261 euros) (Gdynia Newsroom)

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